# LongViewValue
> Independent research on durable businesses, economic moats, capital allocation, owner earnings, and intrinsic value through a long-term investing framework.
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Append `.md` to any post or page URL to get the content in Markdown (for example, `/example-post.md`).

## Pages
- [About this site](https://longviewvalue.com/about.md) - LongViewValue is an independent research publication focused on understanding exceptional businesses through the lens of value investing. Rather than predicting stock prices, we study how businesses create value over long periods of time through economic moats, capital allocation, and compounding.…
- [Frameworks](https://longviewvalue.com/frameworks.md) - Frameworks are the lens through which we analyze businesses. Topics include: Economic Moats Network Effects Capital Allocation Owner Earnings Intrinsic Value Long-Term Compounding
- [Homepage](https://longviewvalue.com/home.md) - ” Current Research · Tencent Series The WeChat Moat, Capital Allocation, and the AI Option A five-part research series on Tencent Holdings (0700.HK) — examining economic moat, AI strategy, capital allocation, and intrinsic value through first-principles value investing analysis. "The moat is not th…
- [Research](https://longviewvalue.com/research.md) - Research Library Long-form company research organized around durable business quality, capital allocation, and intrinsic value. Each research hub brings together a multi-part analytical series, allowing readers to follow the full investment framework from business quality and competitive advantage…
- [Tencent Holdings Research Hub](https://longviewvalue.com/tencent-research-hub.md) - A LongViewValue Research Series on Tencent Holdings

## Posts
- [Tencent Holdings (0700.HK): Capital Allocation and Owner Earnings](https://longviewvalue.com/tencent-capital-allocation-owner-earnings.md) - How Tencent converts accounting profits into owner earnings and free cash flow — and how management allocates that cash across AI investment, share repurchases, dividends, strategic assets, and long-term per-share value creation.
- [Tencent Holdings (0700.HK): AI Strategy, Value Capture, and the Agent Era](https://longviewvalue.com/tencent-ai-strategy.md) - A first-principles analysis of Tencent's AI strategy, exploring how WeChat's distribution, mini-program execution layer, payment infrastructure, and cloud services may convert AI capability into long-term free cash flow.
- [Tencent Holdings (0700.HK): The WeChat Moat](https://longviewvalue.com/tencent-economic-moat.md) - How relationships become infrastructure — and why Tencent's social graph creates switching costs that competitors cannot replicate.
- [Tencent Holdings (0700.HK): The WeChat Moat, Capital Discipline, and the AI Option Nobody Has Fully Priced](https://longviewvalue.com/tencent-investment-thesis.md) - A value investing analysis of Tencent Holdings (0700.HK), exploring its WeChat moat, capital allocation discipline, AI optionality, valuation, and long-term intrinsic value.

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